Category: Exchange

“Evocabank” CJSC’s bonds have been listed on Armenia Securities Exchange for the first time


Today Evocabank’s representatives rang AMX’s opening bell in celebration of the first listing of bonds on the Exchange platform.

Congratulating Evocabank’s team on the first listing of bonds, Hayk Yeganyan, CEO at AMX, wished success to the bank in the securities market, noting, "I’m happy to see Evocabank not only in the role of Exchange member and market participant but also as an issuer. Considering the high demand for corporate bonds, I am sure that the trading of bonds on the exchange platform will be very active. The volume of the corporate bond market at AMX in 2020 increased to AMD446 billion, exceeding previous years’ data by 106%. The trade value amounted AMD 32 billion, which is 8.5% more than last year. Tax improvements are one of the factors contributing to the growth of trade in the corporate bond market. Until 2025 Interest income from bonds listed on AMX, as well as bank issued bonds with a maturity of 24 months and more, are exempt from income tax. Dividends of listed companies are also not taxed for both residents and non-residents.”

Stressing the importance of the issuance of corporate bonds on the bank's activity in the securities market, Karen Yeghiazaryan, CEO at Evocabank particularly mentioned, “We are pleased to have launched a profitable new financial instrument for our investors, which is an alternative to the classic deposit product and has a number of advantages. In particular, the income from bonds is exempt from income tax, non-resident income tax, the funds attracted by them are considered a guaranteed bank deposit and are also guaranteed by the Deposit Guarantee Fund in the amounts defined by the RA legislation. I should also mention that for the first time in Armenia it was possible to purchase our bonds online through the Bank's EvocaTOUCH application.”

With the annual coupon yield of 10% and 5.5%, respectively, the total volume of AMD and USD-denominated bonds of "Evocabank" CJSC is AMD 500mln and USD 5mln, respectively. The coupon payment frequency is conducted quarterly, with the circulation term for 30 months.

Updated as of: 08.04.2021